One buyer of a two-bedroom apartment said her floors were buckling and that her ceiling was falling, said a person familiar with the sale.
“My client felt he wasn’t getting the full story and finally decided to go elsewhere,” she said. “They wouldn’t even allow them to go upstairs to see the views and the actual space,” said one high-end agent who brought in a customer with a $20 million-plus budget.Īnother broker, Dolly Lenz, said her customer just gave up after a few visits to the building. “The purchaser, who now appears to have changed his mind and wishes to break his contract, has no basis for doing so.”īrokers have also complained that potential clients had been treated cavalierly by Stribling. “This situation strikes me as a good old-fashioned case of ‘buyer’s remorse,’ ” she said in a statement. “They should’ve been more honest.”Įlizabeth Stribling, President and owner of Stribling & Associates that markets The Plaza Residences, stood by the project.
“The biggest disappointment is it’s not what was promised, from the windows to the ceiling heights,” one broker said. “Since this lawsuit was filed, people have reached out to us to share their experiences with El-Ad at The Plaza,” Vavilov’s attorney, David Scharf, told The Post. Vavilov’s attorney argued his client was not alone in his discontent. The Post reported yesterday that Russian hedge-fund manager Andrei Vavilov filed a $31 million lawsuit against the project’s developer El-Ad, claiming that the penthouse apartment they sold him was more like an “attic” than the luxury digs he’d been promised. The flood of listings comes as word that the apartments that had been sold – sight unseen – during renovations were not as promised. Other high rollers who have bought into the legendary property include embattled developer Harry Macklowe, New England Patriots owner Robert Kraft and James Cayne, head of now-defunct Bear Stearns. The latest apartments to appear on the market include one owned by fashion icon Tommy Hilfiger, who is asking $50 million. There are also 20 apartments for rent ranging from $5,800 to $75,000 a month. Out of all the listings, just one apartment appears to be in contract, records show, and some sellers have been dropping their asking prices. Many who bought into the building after its three-year renovation have been dissatisfied with a range of issues, from small windows to low ceilings to buckling floors. And more may be available soon, insiders said. Some have languished on the slumping sales market for as long as six months with multimillion-dollar reductions. The relisted residences in the revamped building range in price from $1.8 million to $50 million. Now choose from millions of vector icons to create your elephant logo for free. “That’s more than 50 percent of the residences that are for sale. Design a stunning elephant logo with DesignEvo's logo maker, even if you're not a designer. As many as 25 apartments in the world-famous Plaza are back on the market, with many owners struggling to sell their units in the problem-plagued building, The Post has learned.